Envela price target raised to $12 from $9 at Lake Street

Lake Street analyst Mark Argento raised the firm’s price target on Envela (ELA) to $12 from $9 and keeps a Buy rating on the shares following what the firm calls “a strong Q3 performance.” Higher gold prices boosted revenues in the consumer segment, while cost rationalization improved commercial margins, notes the analyst, who anticipates further upside as both businesses grow.